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作者：Jochmans, Koen
作者单位：Institut d'Etudes Politiques Paris (Sciences Po)
摘要：Empirical models for dyadic interactions between n agents often feature agent-specific parameters. Fixed-effect estimators of such models generally have bias of order n(-1), which is nonnegligible relative to their standard error. Therefore, confidence sets based on the asymptotic distribution have incorrect coverage. This paper looks at models with multiplicative unobservables and fixed effects. We derive moment conditions that are free of fixed effects and use them to set up estimators that ...
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作者：Gortz, Christoph; Tsoukalas, John D.
作者单位：University of Birmingham; University of Glasgow
摘要：An important disconnect in the news view of fluctuations is the lack of consistent evidence suggestive of significant macroeconomic effects of news shocks. Findings from estimated DSGE models that in theory allow news shocks to matter quantitatively suggest that they do not. This disconnect can be resolved once we augment a DSGE model with a financial channel that provides amplification to news shocks. Our results suggest that news shocks to the future growth prospects of the economy are signi...
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作者：Koopman, S. J.; Mesters, G.
作者单位：Tinbergen Institute; Vrije Universiteit Amsterdam; CREATES; Aarhus University; Pompeu Fabra University; Barcelona School of Economics; Vrije Universiteit Amsterdam
摘要：We consider the dynamic factor model where the loading matrix, the dynamic factors, and the disturbances are treated as latent stochastic processes. We present empirical Bayes methods that enable the shrinkagebased estimation of the loadings and factors. We investigate the methods in a large Monte Carlo study where we evaluate the finite sample properties of the empirical Bayes methods for quadratic loss functions. Finally, we present and discuss the results of an empirical study concerning th...
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作者：Frakes, Michael D.; Wasserman, Melissa F.
作者单位：Northwestern University; National Bureau of Economic Research; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
摘要：We explore how examiner behavior is altered by the time allocated for reviewing patent applications. Insufficient examination time may hamper examiner search and rejection efforts, leaving examiners more inclined to grant invalid applications. To test this prediction, we use application-level data to trace the behavior of individual examiners over the course of a series of promotions that carry with them reductions in examination time allocations. We find evidence demonstrating that such promo...
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作者：Bhattacharya, Debopam; Kanaya, Shin; Stevens, Margaret
作者单位：University of Cambridge; Aarhus University; University of Oxford
摘要：Admission practices at high-profile universities are often criticized for undermining academic merit. Popular tests for detecting such biases suffer from omitted characteristic bias. We develop a bounds-based test to circumvent this problem. We assume that students who are better qualified on observableswould, on average, appear academically stronger to admission officers based on unobservables. This assumption reveals the sign of differences in admission standards across demographic groups th...
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作者：Muris, Chris
作者单位：Simon Fraser University
摘要：This paper introduces a new estimator for the fixed-effects ordered logit model. The proposed method has two advantages over existing estimators. First, it estimates the differences in the cut points along with the regression coefficient, leading to provide bounds on partial effects. Second, the proposed estimator for the regression coefficient is more efficient. I use the fact that the ordered logit model with J outcomes and T observations can be converted to a binary choice logit model in (J...
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作者：Thomson, Russell
作者单位：Swinburne University of Technology
摘要：In order to measure the effect of tax credits on private R&D investment, researchers confront the difficult problem of finding an exogenous measure of tax policy that exhibits sufficient variation to support robust identification. This paper takes a new approach based on exploiting differences in the average capital-labor ratio of R&D investment across industries and variation in the tax treatment of different expenditure types across countries and over time. The estimated short-run elasticity...
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作者：Baum-Snow, Nathaniel; Brandt, Loren; Henderson, J. Vernon; Turner, Matthew A.; Zhang, Qinghua
作者单位：University of Toronto; University of London; London School Economics & Political Science; Brown University; Peking University
摘要：We investigate how urban railroad and highway configurations have influenced urban form in Chinese cities since 1990. Each radial highway displaces 4% of central city population to surrounding regions, and ring roads displace about an additional 20%, with stronger effects in the richer coastal and central regions. Each radial railroad reduces central city industrial GDP by about 20%, with ring roads displacing an additional 50%. We provide evidence that radial highways decentralize service sec...
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作者：Clemens, Michael A.; Tiongson, Erwin R.
作者单位：IZA Institute Labor Economics; Georgetown University; Asian Institute of Management
摘要：Temporary overseas work can both raise a family's income and split the household geographically, with theoretically ambiguous net effects on spending, finance, and labor supply decisions. We study a policy discontinuity in the Philippines that quasi-randomly assigned temporary, partial-household migration for high-wage jobs inKorea. This allows quasiexperimental estimates of reduced-form effects of migration. We find that migration causes large changes in households' spending and savingnot onl...
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作者：Larreguy, Horacio; Marshall, John
作者单位：Harvard University; Columbia University
摘要：Developing democracies are experiencing unprecedented increases in primary and secondary schooling. To identify education's long-run political effects, we use a difference-in-differences design that leverages variation across local government areas and gender in the intensity of Nigeria's 1976 universal primary education reformone of Africa's largest ever educational expansionsto instrument for education. We find large increases in basic civic and political engagement: better educated citizens...
